KERNEL Week 4 Updates
First demo almost ready for HackFS submission, Socials, Website and more token economics and business development
Half time update
We are half way through the program, this means for us its delivery time for HackFS the hackathon from ETHGlobal and Protocol Labs. Our Team is goind to submit the first working demo of our product.
✅ working demo for HackFS delivery
✅ Token economics got more defined
✅ first thoughts on $DFAME for Governance
✅ V1 Pitchdeck ready
✅ Website dfame.app is online
✅ You can pre register for our private alpha phase here
✅ Twitter & Instagram pages launches
HackFS DEMO
For MVP purpose we developed a PWA based on the Abridged SDK with 3Box profiles and video feed with snap scrolling where the user can discover newly uploaded videos. To watch a video the user has to become a Member of the creators Community. Therfore he buys the specific community token. Every Community will have 3 different Membership levels. For higher member ship tiers you will get more content. Which tier you need to unlock a specific video decides the community owner. To launch a community token we’re using the Roll API. Tomorrow we will deliver the first basic development milestone - launching a community token, uploading a video, generating a gif, set membership level for the video, unlock the video with a community token.
Token economics got more defined
Brand-Community curation market
A system to incentivize cross-collaboration through a continuous token bonding curve. Tokens are minted as needed and used within the application when required.
Basic steps:
With DAI a user can buy a new token ($BRAND) through a smart contract. The DAI is kept as a deposit (reserved token) within the smart contract.
The buying price is determined by the current supply of the new token ($BRAND). This price is coded according to the algorithmic curve.
At any point in time, someone can sell back their $BRAND token and get out an appropriate reward that is set by a sell curve.
Every community will have its own bonding curve liquid market.
The value derived from curved bonding is that it rewards members for access earlier in the community. Creating different tokens for each community fits the value each one of them produces.
Those members who are most active would get access to special content. In future releases, every Brand could create its own NFT. Users will buy or earn the token to unlock special content. This NFT could be exchanged in the app-market for the users that aren’t in the community but wanting to access the content (pre-album).
A member needs a required number of tokens to unlock special content. The DAO team can award those members that are consistently participating.
Every time a new user joins the community, we mint an additional percentage number of tokens which would be distributed to members. Also, a selling fee tax is defined when burning the token to withdraw DAI. That DAI goes into the community pool. The tokens can be managed for the good of the community. Either if a new user access to the community or wants to sell their tokens to make a profit, the value of a member will increase.
We published our first draft of the token economics. Feel free to read through and comment:
First thoughts on $DFAME for Governance
Token-permissioned DAO’s. A governance token for the DFAME plattform.
Pre-sale $DFAME:
Fundraising through a bonding curve. In our case we can set a sigmoidal curve formula. In that case we will have a max price defined.
Details(TBA):
Initial price = USD 0.01
Initial supply = 2M
Total supply = 10M
Pre-sale supply = 15% * [Initial supply]
Utility:
Protocol Governance
Awards LP
Creator access?
Fees?
Pitchdeck V2.1
“Turn your community into an economy”
With the plattform we’re building we have the goal to solve the following problems:
uniqueness and origin tracking of products & content
No “price tag” on communities and their attention
Brand strategy move down the long tail and “community” has become and important concept
Brands, Influencers, Artists do not own the relationship with their audience since this is fully in hands of Algorithms of the social platforms
So how do we solve it ? - With a new economic layer for communities, we combine DAOs and DEFI with the passion economy and provide a Blockchain based solution for the FAME industries (Fashion, Arts, Music and Entertainment)
In practice this means we provide a simple tokenization service for communities and Brands to launch their own crypto token. Then we offer a user App with and wallet to easily interact with a tokenized community. For the Organizations, Persons or Businesses behind the community, DFAME provides a plattform with business services, integrations and Analytic tools. We also defined a strong token economy for the communitys to make sure that their value grows with growing members.
DFAME.APP - Our Website launched
We’re started with the communications about our project so we launched our first landing page. And it’s not only the landing page, you are also able to pre register for the closed alpha test and sign up for our newsletter. What are you waiting for, check it out and learn more about DFAME.
DFAME.APP - On Socials
Yees we are live on twitter follow us to stay up to date:
Thanks for reading our weekly update…we are excited for the next weeks and really wanna know what you would build on DFAME. Contact us on our socials!